Innosight Acquired by Huron

Clearsight Advises Growth Strategy Firm, Innosight, in its Acquisition by Huron Consulting Group Inc.

 

Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its market-leading Professional Services Practice.  Clearsight served as the exclusive strategic and financial advisor to Innosight Holdings LLC (“Innosight”) in its acquisition by global professional services firm Huron (NASDAQ: HURN).  This transaction further emphasizes Clearsight’s position as the leader in advising high-end consulting firms.

Built by leading strategic thinkers and co-founded by renowned strategy consultant Mark Johnson and Harvard Business School professor and author Clayton Christensen, Innosight is a growth strategy firm focused on helping companies navigate disruptive change, enable innovation and manage strategic transformation. Innosight has more than 90 employees and a global footprint with locations in the United States, Singapore and Switzerland.  Formed in 2000, Innosight recognized that traditional approaches to strategy and growth were not enough to help companies accelerate transformational change. This became the basis for its “future back” approach to strategy. Organizations that apply Innosight’s approach build leadership alignment on a vision for the future and create portfolios of new innovations and growth businesses that address changing customer needs and outpace their competitors. The firm’s innovation and transformational strategies have proven successful in industries undergoing disruptive change such as aerospace, automotive, energy, financial services, healthcare, insurance, retail, medical equipment and pharmaceutical.

“Innosight is dedicated to hiring and working with premier talent that exemplify our core values. After meeting with several firms, it was evident to us that Clearsight’s expertise and insights around high-end strategy consulting M&A were unparalleled in the market. More importantly, their values were consistent and aligned with our core values – including humility, collaboration, transparency, and intellectual curiosity. Our team absolutely made the right choice in selecting Clearsight as our advisor and partner in this process. We could not be more pleased with the outcome,” exclaimed Mark Johnson, Co-founder and Senior Partner of Innosight.

Clearsight Co-Founder, CEO and Managing Director, Joel Kallett commented on the transaction saying, “From our first meeting with the Innosight Partners we knew that this was a firm with which we wanted to collaborate.  This Transaction demonstrates the innovative thinking at both Huron and Innsoight as their leadership teams have the foresight to combine forces in order to provide unique business transformation solutions to a much broader global client base than either of them could individually. This is exactly the type of strategic combination in which M&A should be employed.”

Huron and Innosight will use their combined strategic, operational and technology capabilities to help clients across multiple industries develop pioneering solutions to address disruption and achieve sustained growth.

TRANSACTION OVERVIEW

Under the terms of the purchase agreement, Huron purchased Innosight Holdings, LLC for $100 million, consisting of $90 million in cash and $10 million in Huron common stock, plus contingent consideration of up to $35 million if specific financial performance targets are met over a four-year period. The cash component of the transaction was financed with cash on hand and borrowing under the company’s senior secured credit facility. The shares of Huron common stock will not be registered under the Securities Act of 1933 and will be subject to restrictions on transfer under applicable securities law.

For reporting purposes, Innosight will be included in the Huron Business Advisory segment. For more information, read the press release announcing the acquisition here.